Realistic cost to refit a 50ft cruising boat

[Searles]

About half way through the rebuild of my Bob Perry Cheoy Lee 48 ,as a professional shipwright boatbuilder ,most of this is just work for me,the electrics are an other matter ,the teak deck teak is in good condition so just re fastening and re seaming the lot ,the new fastenings are teak trunnels ,no metal fastenings, I like the boat so the cost is not really an issue for me.When the boatyard was in operation ,we bib a number of large yacht full rebuilds ,for owners who new what they wanted . My expected cost about $A150k ,.⚓️⛵️

[jimellifritt]

Originally Posted by wet_dreams

How much should I realistically expect to spend refitting the major systems on a 50ft sailboat from the 1970s if I did all of the work myself.

New engine
New sails
New rigging
New wiring
New solar system
New autopilot
New ground tackle / windlass

Etc etc etc

We did a 52 foot 1996. It had crossed Atlantic and Pacific.
Electronics were 12,000
New roller fuller 10,000
Sails were good
New genny 10,000
Engine 9,000 hours still going, it will be 20,000
Tyranny still working 6,000
New wiring and converting from 220 50hz to 60 cycle 10,000
Heat, 10,000, we lived aboard in PacNW for 5 years
Dinghy 7,800
Tackle was good
New lines 8,000
Paint copper coat bottom 9,000
Paint and body work sides and top 90,000
New thruster 8,000
New Davits 4,000
Inverter and batteries 8,000
Water maker repair 2,500 waste should have bought replacement
New ref 2,000
Washer/dryer and electric 3,000

Very happy with out come, 5 years of my life exhausting

[massnspace]

$230,000.00

[Bowdrie]

Some of the replies posted have amount listed that are more in line with the costs to refit an aircraft carrier than a "simple" cruising boat.
Truth be told, I'm not sure that very many on this forum know the meaning of the word "simple".
They need to watch "Barry" on the "Old Sea Dog" YouTube videos.
If they did, they wouldn't be tossing out such astronomical numbers.
Some go into the wilderness with a pack on their back, others will settle for nothing less than a $120K Airstream that's pulled with a $100K pick-up.
Who's to say which has the most enjoyable experience?
Simple does not mean $50Gs for an engine, or $20Gs for some "electronics suite", or a $15G paint job.
Now, of course this is dated, but this family probably spent less on a circumnavigation than some on this forum spent for a couple of sails.

https://www.youtube.com/watch?v=rBNzSdv7gwI&t=696s

[philiosophy]

Originally Posted by wet_dreams

How much should I realistically expect to spend refitting the major systems on a 50ft sailboat from the 1970s if I did all of the work myself.

New engine
New sails
New rigging
New wiring
New solar system
New autopilot
New ground tackle / windlass

Etc etc etc

About double what a 40' boat and that would be double a 35' boat. Sailboats and their needs grow exponentially. Good your a d king this question tho. Ask and research much much more. There is about as much investment value and depreciation as a Motorhome. Difference is the salt water environment. Glad your looking to do it... Just don't BS yourself. Like all things.... Do the work...Best

[impulsive19]

I agree with the majority opinion - find a nice used vessel that someone is done with from the huge inventory always available - and go sailing (or live aboard) immediately.
Only reason I have spent four (4) years and over $200,000 stripping out and refitting a 57 footer - is that I've owned her forever and just can't part.
This has been a complete strip out to bare hull - there is literally nothing that has not been replaced save the cabin steps that my dad built - kept for nostalgia. She spent almost two years out of the water for the hull strip out and refit / repaint during Covid - and the last two years we were able to work in our slip and closer to home. Yes - I said "we" because I have a couple of capable guys helping and the cost of that labor is not part of the figure above!

It has taken four years mostly because I am still working for a living - so figure about 2 years if you have at it daily. I believe she will be sailing next season and will consume another 25,000 - 50,000 to finish out with upholstery-canvas work - electronics, etc.
You can buy a pretty nice 50 footer for $250,000 !
One thing that folks haven't mentioned enough - is finding a yard that is willing to allow a DIY long term project. It is easy to get overwhelmed by the enormity of the task and yards are littered with abandoned projects. Before you even contemplate a project of this size you must have a hospitable marina to operate in. One of the only DIY yards on Florida's east coast charges $100/day and wants you purchase materials thru them !
I am often reminded of the little jingle on of these form members posts:


"It takes a fool to own a boat and a special kind of fool to build one"

[JohnHolland]

$100k + tanks, hoses, pumps, electronics , dodger/bimini, entertainment systems..add another $30k

[eemahoney]

I did a major refit of our 1985 Endeavour 42 in 2014. We are the original owners, so I knew the warts, and also the fixes that I put in over the years that needed to be replaced before we started Retirment Cruising.

I did 100% of the labor myself, I spent 6 months full time on this effort.
Fixed one soggy deck, 500 in materials and 2 weeks labor
replaced all electronics and upgraded to NMEA2000 network 21,000
Replaced all fuel, water and waste tankage 1500 plus a week of labor
New Standing and Running Rigging, new bearings in the Furler. 5200
Replaced head gasket and all seals in the Perkins 4-154, it had 4200 hours, but no issues. 1500
New Autopilot Ray Marine Linear drive and Edson Take off arm 3500
Sails were good, I had replaced in 2008
Installed 3KW modified sine wave inverter with static transfer 1900
Replaced House Bank with 800AH AGM bank made up of 6VGC2 batteries 3500
Installed wiring and busbars to handle the current requirements of the inverter and windlass lots of heavy duty cable and parts 3700
New Maxwelll windlass and AutoAnchor system 2700

Left 10 days after completion on the Americas Great Loop and Florida Cruising, 366 days of flawless performance which included a few days of more creature comfort upgrades in beautiful locations


My suggestion, prioritize, do what needs to be done to get safety underway, take tools with you buy things like wire, lugs, tools etc. in bulk. Plan the tasks you will do on weather days or simply when you find a great place, order the major materials from reputable online suppliers and carry them along.

Get on the water cruising, get some enjoyment out of your investment.

Always remember, perfection is the enemy of progress.

[malbert73]

Originally Posted by wet_dreams

I appreciate all of the feedback! Especially from those of you who have actually done it. I would approach a refit a bit differently than than some, with a focus on only the absolute essentials to cruise safely. We can do without electric heads, fancy electronic screens, a shiny paint job etc. As someone mentioned, we aren’t trying to wow people with our “yacht”. We are a young couple (30 y/o) and are looking at purchasing a platform that we can build on and keep for many years. We would like to start and family, and to be able to accommodate other family and friends comfortably while cruising. The reality is we will not be able to afford to purchase a similar sized vessel that has been fully refit anytime soon. Instead we figure we can pick away at projects over time while strategically keeping the vessel in a together enough state to use and enjoy between projects. We are capable of doing everything ourselves and we both work rotational jobs affording us a lot of free time. We figured around $120k before posting this forum, so we haven’t been scared off.



I also spoke with half a dozen insurance outfits this week that will cover older boats (in this case 1970) some even offering comprehensive coverage. We are both licensed captains and have owned older fiberglass boats and it sounds like our resume/ownership history is essential to obtaining this insurance.



This would be a big jump for us, moving up from an engineless 30ft, but what we don’t want is to buy something that will again be too small a few years from now when our family starts to grow. I have delivered about 40 sailing vessels between 36-65ft over the last 5 years, always with myself and 2 crew, based off of this experience we have concluded that 44-50ft is the range we would like to stay in.

What type is the boat?

An opposite and intriguing way to get a large boat cheap is what a young couple (YouTube expedition evans) undertook. They bought a relatively new Beneteau oceanis 50 that was declared an insurance loss due to hull/liner separation. They spent a bit under a year completely rebuilding the liner and rebonding the keel, etc. But when done, the boat and its parts are relatively new- so much less refit costs. And they have done a lot of cruising and bluewater including an Atlantic crossing.

So, if you can find a similar situation on a newer boat you may be better off…

[Fore and Aft]

Wet_Dream thinking about this I also reckon you need to have a good look at yourself and decide if you are the type of person to complete a project from start to finish. Too often I survey boats that have been half completed or at worst pulled apart and not put back together. Every time the owner has lost money or occasionally to really rub salt into the wound, they have to pay to have the boat disposed of.
Bowdrie I met Bruce and his family when they slipped their boat in Brisbane. Sure they lived a simple life but not all the time.......a bit like the Pardeys and their engineless sailing exploits. There's always way more to the story than meets the eye.
Cheers

[Warren149]

Originally Posted by Fore and Aft

Wet dream and then when you wake up to yourself you find that you have an old yacht design that is worth half of what it cost you. Not to mention a fair chunk of your life that could have been spent cruising. That's just my experience as a marine surveyor who has surveyed project boats that get passed from one dreamer to the next. Or the occasional completed project boat that is almost given away in relation to what the owner has spent in money and time.
I bet if you look at a more modern 40 footer it will have just as much room as a 1970s 50 footer.
Cheers

100% agree! Find a boat ready to go!

[OneBoatman]

Only you can decide to what length you're willing to go. First, establish a time line. Charter someone elses 38 fter for a couple of weeks to make sure you love cruising as much as you think. As has been said space aboard a 70s 50 fter maybe equals more modern 38-40 fter. Then, in what year will you acquire the boat and in what year will your trip begin and end? Style: Economy or 1st Class? One way or roundtrip? Then take every bit you are willing to drop into the dream and figure about half for the acquisition and rehab of the boat, and somewhere near half for the expense and upkeep over the duration of the trip. Most figure it as round trip. Decision time. Can the boat you're considering meet the plan. Be sure to leave something in your budget for time on land, maintaining your health and lifestyle while working on the boat, and plan for a chunk to go to vessel safety items: thru-hulls, bilge pumps, vented loops, CO detection, fire extinguishers, life raft, and communications as these "etc costs" can easily rival or beat any other single system upgrade. Watermaker, fishing gear, and clothing. Keep in mind: insuring an older vessel is a task in itself, also recreational vessels are never considered investments, meaning what you put in can be thought as like what you paid for a car that runs on Lithium. The only return is that if all goes well, and it doesn't catch fire, you can return and know you did it with the stories and video to show for it.

[Dockhead]

Originally Posted by jt11791

New engine $25K
New sails $25K (this could be less. Or more.)
New rigging $20K (barely enough for standing and running rigging if you have a cheap rigger and buy the ropes yourself)
New wiring $2K (only materials)
New solar system $2K
New autopilot $5K
New ground tackle / windlass $5K

I get $84K, so round up to $100K.

That's pretty good, but there are a LOT of items missing from the list.

Electronics, radios, antennas, instruments, radar, autopilot -- $15k -- $30k if you install everything yourself. Double that if you have it done professionally.

Canvas and cockpit cushions Can be $15k or more.

Tanks? Can be many thousands.

Teak decks? Can be $15k -- $20k or more.

Deck hardware, chainplates, and rig. Can be anything.

Furlers and winches? Winches can be very long lived, but if they are old non-self tailing you might want to replace them. If you have wire halyard winches definitely replace those. Winches are expensive.

Pumps (fresh water, macerator, bilge pumps, etc.), calorifier, plumbing Can be several thousand.

Rudder bearings, steering cables, steering gear, and is the rudder waterlogged? From a few hundred to thousands.

Bottom blasting and refinishing. Can be several thousands.

How are the keel bolts?


Propeller, shaft, shaft seals, engine mounts. Can be many thousands (and you want a folding or feathering prop if you intend to sail).


Through hulls and underwater hoses. Can be several thousand.

Toilets. Can be a couple thousand, less if you rebuild what you already have.

Refrigeration. Can be a couple thousand.

Interior details -- revarnishing, replacing bedding, hinges, etc. Can be anything.

Heating/aircon systems -- can be many thousands.

Batteries -- can be a grand or a couple grand depending on the type.

You get the picture.

If you get by for less than $200k and a solid year of your labor you will be doing well, and it will be easier to bust such a budget than you think. But this could be worth it depending on what you paid for the donor boat. If you pay almost nothing (which is what it's worth if it needs all this), then you could end up with a really nice boat, replacement cost above half a million. People warn against doing this, but if you have the skills and time, and a realistic budget, and enjoy doing the work, it might not be a bad deal.

[Dockhead]

Originally Posted by wet_dreams

I appreciate all of the feedback! Especially from those of you who have actually done it. I would approach a refit a bit differently than than some, with a focus on only the absolute essentials to cruise safely. We can do without electric heads, fancy electronic screens, a shiny paint job etc. As someone mentioned, we aren’t trying to wow people with our “yacht”. We are a young couple (30 y/o) and are looking at purchasing a platform that we can build on and keep for many years. We would like to start and family, and to be able to accommodate other family and friends comfortably while cruising. The reality is we will not be able to afford to purchase a similar sized vessel that has been fully refit anytime soon. Instead we figure we can pick away at projects over time while strategically keeping the vessel in a together enough state to use and enjoy between projects. We are capable of doing everything ourselves and we both work rotational jobs affording us a lot of free time. We figured around $120k before posting this forum, so we haven’t been scared off.

I also spoke with half a dozen insurance outfits this week that will cover older boats (in this case 1970) some even offering comprehensive coverage. We are both licensed captains and have owned older fiberglass boats and it sounds like our resume/ownership history is essential to obtaining this insurance.

This would be a big jump for us, moving up from an engineless 30ft, but what we don’t want is to buy something that will again be too small a few years from now when our family starts to grow. I have delivered about 40 sailing vessels between 36-65ft over the last 5 years, always with myself and 2 crew, based off of this experience we have concluded that 44-50ft is the range we would like to stay in.

I don't think your plan is all that bad as long as you really comprehend the magnitude of the task.



Only advice I would give is to do it as much as possible in one go, rather than a little bit at a time. It's easier and more efficient that way, and safety is an issue with many items on the to do list. I'm a little worried about the phrase "fancy electronic screens" -- you will want at least basic instrumentation, including a chart plotter at the helm, wind, depth, speed log, and a second MFD at the nav table and radar are really good options. You will want a good VHF radio with new antenna well installed, and AIS is essential (in my opinion). You won't get away spending nothing on electronics.


Also, before diving into something like this, make sure the project boat has good bones. Hull should be sound (no soggy balsa coring from that period, no soggy decks, no bad osmosis), and the boat itself should be a respected make, for this to be worthwhile. Be especially careful about cored hulls from that time -- the technology was not mature until the 90's. Forget Irwins, Gulfstar, Morgans of that period. Avoid anything with a balsa core before 1990 (and then only from a premium maker) and anything with an iron keel. Pearson, Gozzard, Tartan, Passport, and of course Hinckley, Morris, etc. are worth restoring, as well as any premium Euro make (HR, Oyster, any Swedish or Finnish boat, Moody, etc.), some Taiwanese boats (e.g. Hylas, Mason, etc.).

[Sailing August]

engine $8K (rebuilt)
sails $12K (used)
New rigging $15K
New wiring $4K
New solar system $8K (including batteries and charger inverter)
New autopilot $6K
New ground tackle / windlass $5K
Total $68k with some compromise
$100k if everything new